Treasury and IRS Announce That All Legal Same-Sex Marriages Will Be Recognized

IRS Newswire August 29, 2013

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Issue Number:    IR-2013-72 Inside This Issue Treasury and IRS Announce That All Legal Same-Sex Marriages Will Be Recognized For Federal Tax Purposes; Ruling Provides Certainty, Benefits and Protections Under Federal Tax Law for Same-Sex Married Couples WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction that does not recognize same-sex marriage. The ruling implements federal tax aspects of the June 26 Supreme Court decision invalidating a key provision of the 1996 Defense of Marriage Act. Under the ruling, same-sex couples will be treated as married for all federal tax purposes, including income and gift and estate taxes. The ruling applies to all federal tax provisions where marriage is a factor, including filing status, claiming personal and dependency exemptions, taking the standard deduction, employee benefits, contributing to an IRA and claiming the earned income tax credit or child tax credit. Any same-sex marriage legally entered into in one of the 50 states, the District of Columbia, a U.S. territory or a foreign country will be covered by the ruling. However, the ruling does not apply to registered domestic partnerships, civil unions or similar formal relationships recognized under state law. Legally-married same-sex couples generally must file their 2013 federal income tax return using either the married filing jointly or married filing separately filing status. Individuals who were in same-sex marriages may, but are not required to, file original or amended returns choosing to be treated as married for federal tax purposes for one or more prior tax years still open under the statute of limitations. Generally, the statute of limitations for filing a refund claim is three years from the date the return was filed or two years from the date the tax was paid, whichever is later. As a result, refund claims can still be filed for tax years 2010, 2011 and 2012. Some taxpayers may have special circumstances, such as signing an agreement with the IRS to keep the statute of limitations open, that permit them to file refund claims for tax years 2009 and earlier. Additionally, employees who purchased same-sex spouse health insurance coverage from their employers on an after-tax basis may treat the amounts paid for that coverage as pre-tax and excludable from income. How to File a Claim for Refund Taxpayers who wish to file a refund claim for income taxes should use Form 1040X, Amended U.S. Individual Income Tax Return. Taxpayers who wish to file a refund claim for gift or estate taxes should file Form 843, Claim for Refund and Request for Abatement. For information on filing an amended return, see Tax Topic 308, Amended Returns, available on IRS.gov, or the Instructions to Forms 1040X and 843. Information on where to file your amended returns is available in the instructions to the form. Future Guidance Treasury and the IRS intend to issue streamlined procedures for employers who wish to file refund claims for payroll taxes paid on previously-taxed health insurance and fringe benefits provided to same-sex spouses. Treasury and IRS also intend to issue further guidance on cafeteria plans and on how qualified retirement plans and other tax-favored arrangements should treat same-sex spouses for periods before the effective date of this Revenue Ruling. Other agencies may provide guidance on other federal programs that they administer that are affected by the Code. Revenue Ruling 2013-17, along with updated Frequently Asked Questions for same-sex couples and updated FAQs for registered domestic partners and individuals in civil unions, are available today on IRS.gov. See also Publication 555, Community Property. Treasury and the IRS will begin applying the terms of Revenue Ruling 2013-17 on Sept. 16, 2013, but taxpayers who wish to rely on the terms of the Revenue Ruling for earlier periods may choose to do so, as long as the statute of limitations for the earlier period has not expired. Back to Top Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.

TAX DEADLINE IS APPROACHING – OCTOBER 15, 2013

                                 This is
     G&G Associates Tax & Financial Consulting
                             e-Newsletter
                                                               
      Tax Deadline Approaching October 15, 2013

                           

Imhotep (Wisdom to You) G&G Readers,

Guess what time it is? Almost tax deadline time! If you still haven't filed your taxes the deadline this year is October 15, 2013. 

If you filed an extension, remember the six month extension was for filing the return only. Any tax that was due should have been paid by April 15, 2013 to avoid any penalty and interest.  The longer you continue to wait the more in penalties and interest it will cost you.

For INSTRUCTIONS on how to get your taxes prepared visit our website, click on the "TAXES" tab and then download the "Tax Preparation Worksheet," on the left side of the page.

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G&G TAX PREPARATION SERVICES

G & G Associates is a Black-Owned Business focused on easing our client's minds on tax compliance matters. With the ever changing and burdensome tax code, overwhelming and confusing federal and state tax forms and increasing IRS scrutiny over most tax items, taxpayers need to have at least this one part of their lives made easier, less stressful and more profitable.

Our expert help includes our:

In-Depth Interview — a thorough and complete experience designed to unearth every tax savings opportunity during the course of your tax preparation. We use these to the latest IRS guidelines to guide you through a painless, interactive session so that together, we catch every single detail that results in more tax savings for you.

We can service clients anywhere in the world and we look forward to assisting you in getting your tax return prepared for the 2012 and beyond tax season. (Referrals available upon request)

If you are a returning client you'll get a 25% discount off your tax preparation fees. If you are a new client you'll get $40 off our normal fees. If you are active duty or retired military you'll get a 15% discount. If you are a senior citizen (above 65) you'll get a 20% discount.

At G&G Associates, we GUARANTEE to beat "ANY" other tax professional’s price. We take pride in not nickeling and diming our customers with unnecessary charges & fees.

Do you have a friend, co-worker or family member who might be interested in G&G Associates Tax Preparation Services? If so, then you can earn $40 for everyone you refer that files their tax returns with us. Just refer that person, and when we complete their tax return we will send you a check for $40. To make the deal even sweeter, after (4) four referrals you will get your taxes done for free.

We are looking forward to doing business with you for the upcoming tax season.

For more information about G&G Associates, visit our website at www.gngnassociates.net
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One of the benefits of being a client with G&G Associates is that you'll get a free 30 min pre-tax preparation session to make sure you are gathering your documents appropriately before you submit your documents for tax preparation.

This year’s tax season has been a challenge for many especially since record numbers of individuals have tapped into savings, retirement accounts, etc which may have caused tax bills you didn't realize.

So, it will be imperative that you have a tax professional and "not a tax preparer" doing your taxes. Trust me folks, there is a big difference.

Also, all new clients get a 50% discount off the 1 – year annual subscription to G&G Investment Society (GGIS) paid newsletter service a ($149.00) value.

Also, all new clients will get a “FREE” 1 hour Financial Success Strategy Consultation appointment a ($200) value.

Contact us today to schedule an appointment!!!

Until the next time!

Meda Ase P (Thank You Very Much),
Asar Maa Ra Gray
Tax & Financial Consultant, RFC
G&G Associates
757-271-6068 office
866-361-3872 toll free fax
www.gngassociates.net

G&G Associates & G&G Travel are on Facebook & Twitter, join our fan page.

**You must be a G&G Associates tax client to receive the $40 referral fee

P.S. If you're not a GGIS Paid Subscriber reader yet, why not? Currently, our GGIS portfolio is packed with great plays to enhance your financial portfolio to close out 2013.

P.S #2 If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the “G&G Travel” link and let your travel planning begin. Let us know where you want to go and we’ll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.

Our Federal Government Is Twice as Bankrupt as Detroit

This is

G&G Associates

e-Newsletter

 Our Federal Government Is Twice as Bankrupt as Detroit

Detroit declared bankruptcy a few days ago.  Detroit should serve as a stark warning to Americans who believe in liberal social policies, like highly progressive taxes and expensive social safety nets.

These socialist programs don't cure income inequality. They merely destroy wealth by reducing incentives for building businesses and encouraging dependency. That's why societies with lots of government spending typically have few civil institutions and a small middle class.

Here's the message our politicians on both sides of the aisle seem to be missing: 50 years ago, Detroit was one of the largest and wealthiest cities in the world. Nearly 2 million people lived there, and it enjoyed the highest per-capita income in the United States.

Then, in 1960, everything changed.  Liberal Democrats came to power (and have held power since). Their ideas about using the government to build a "Great Society" – using the government to provide a cradle-to-grave social safety net – have slowly transformed Detroit from the wealthiest city in America to nothing but a big heap of mess.




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Internal Sponsorship:

                                              Watch Your Money Folks

Since the announcement of QE3 until 2015 by the Fed Chairman and Japan’s outright start of the Currency wars, you need to really know how to protect and grow your financial portfolio … from the currency wars in process.

If you get paid in dollars and hold the majority of your assets in U.S. stocks or bonds, your wealth is in significant danger (401K’s, TSPs, 403Bs, Mutual funds, etc).

To become a member of the G&G Investment Society (GGIS) newsletter subscription to learn how to take advantage of some of our suggestions so you can protect your wealth and portfolio against a fallen dollar, send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and click on the “Products & Services” link and we’ll get you signed up right away.

DON'T WAIT ANOTHER DAY!

- 1 year subscription - $149

- 2 year subscription - $269

- Lifetime subscription - $699   {50% off tax prep & 25% off consulting services for life}

*** Membership Guarantee *** If you don't make your money back from being a GGIS member by the end of your subscription...we'll refund 100% of your subscription fee back. That's how confident we are that this will be one of the best financial moves of your life.

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Detroit's population has declined by almost 70% since 1960. Roughly half of the people who remain are functionally illiterate. More than 60% live below the poverty line. And roughly half of all adults don't work. Only about one-third of the city's ambulances are in working order. Almost half of the streetlights don't work. It takes the police an average of 58 minutes to respond to emergency calls. The violent crime rate (no surprise) is five times higher than the national average.

It is shocking to realize that only 50 years ago, Detroit was the shining example for the world of capitalism and civil society. I guess it doesn't take long to destroy wealth.

Now consider this… Detroit went bankrupt with total debts of around $20 billion. That's roughly $28,000 per remaining citizen. That's nothing. The debts that the U.S. government has amassed over the same period (the last 50 years) are massively larger.

Today, all Americans owe more than $16.7 trillion on the federal level – that's nearly $54,000 per citizen and nearly $150,000 per taxpayer. How many Americans do you think realize that our federal government is twice as bankrupt as Detroit?

Detroit is a living case study of why government efforts to redistribute wealth don't work. But instead of recognizing any of the lessons of the past, the US government promises more of the same policies.

Meanwhile, the government is in far worse shape than the city of Detroit. The only real difference is the president and the federal government are still able to print their way out of trouble, using the Federal Reserve's ongoing “MANIPULATION” of the U.S. Treasury market.

But, “NO” nation in history “EVER” became wealthier by printing money and buying its own government's debts. IN EVERY CASE, inflation soon destroyed the economies and wiped out private savings. Rates on the U.S. 10-year Treasury bond have recently moved from 1.6% to 2.6% – in the face of continued Federal Reserve buying of $85 BILLION a month.

The dream that the government could provide prosperity to the residents of Detroit has come to its inevitable end. The dream that the federal government can provide prosperity to the entire country is even more delusional. It “WILL” come to a far worse end. 

The question is are you prepared to deal with it when it happens?

Printing trillions in new dollar bills to facilitate the madness won't prevent the inevitable bankruptcy of our country. It will merely gut the middle class of its savings and its wages first.

Believe me… this will come to pass and it will not take another 50 years … “Maybe 10”.

AGAIN: To become a member of the G&G Investment Society (GGIS), send an e-mail to GGIS@gngassoc.com and/or visit our website at www.gngassociates.net and you can sign up there.

G&G Associates

is on Twitter

Join “G&G Associates” on Twitter.  If you have a smart phone or online twitter account you can sign up to receive tweets from us.  This will keep you in the know with current market moving updates, let you know when we have changes to our website, inform you of recent newsletter postings, and it will also be a good medium for improving your tax & financial IQ.

You can find us on Twitter by searching for the handle "GG_Associates."

As always…feel free to pass this information on to anyone you think is interested in increasing their tax & financial IQ.

If you need a one-on-one consultation to learn how to implement these investments or any other tax or financial strategy mentioned in these newsletters, feel free to contact my office to setup an appointment.

Meda Ase p (Thank You Very Much),

Asar Maa Ra Gray
Tax & Financial Consultant, RFC
G&G Associates
757-271-6068 office
866-361-3872 toll free fax
www.gngassociates.net

Become a Fan of G&G Associates and G&G Travel on Facebook & Twitter.

P.S. If you are looking to Travel and looking for steep discounted travel, visit www.gngassociates.net, click on the “G&G Travel” link and let your travel planning begin. Let us know where you want to go and we’ll do our best to find you the best deal your money can buy. Become a Fan of G&G Travel on Facebook.



LEGAL NOTICE: This work is based on what I’ve learned as a financial researcher and analyst based SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. It may contain errors and you should not base investment decisions solely on what you read here.  It’s your money and your responsibility.  Nothing herein should be considered personalized investment advice.
 

Hampton Roads Business Owners - CRC Events

Special Upcoming CRC Events -   Food, Fun, and Golf!  Greetings!     Blessings to you and your business/company!     Hope you are enjoying your summer. There is no CPA meeting this month. However, we would encourage you to join with either the Men of CRC or the Ladies of CRC.  Mark your calendars to attend our Men Builders Cook-Out coming up on Saturday, August 3rd from 10am-4pm at Bayville Park on 4132 First Court Road Virginia Beach, VA 23455. Please invite another brother and remember to bring your favorite choice of meat for the grill. Join us for an awesome time of food, fellowship and fun in the park!      And the ladies of CRC will have their very own cookout on August 10th from 11am-3pm at the Chesapeake City Park, 900 Greenbrier Parkway, Chesapeake, VA.  There is no cost to attend either of these special events.      Men Builders Cook-Out Date: August 3, 2013 Time: 10:00 am-4:00 pm Location: Bayville Park, 4132 First Court Road Virginia Beach, VA 23455   Women of CRC Cook-Out Date: August 10, 2013 Time: 11:00 am-3:00 pm Location: Chesapeake City Park, 900 Greenbrier Rd,  Chesapeake, VA 23320   SPECIAL REQUEST AND INVITE FROM BISHOP McBATH   Bishop McBath asked me to ask all members and friends of the CPA if they would consider participating or at least contributing to The B. Courtney McBath Golf Classic,to be held this year on September 5th. This event is the perfect event to mix business and pleasure while providing an opportunity for minority students to reach their highest potential. Your participation, as a sponsor, helps a deserving student become a BCM Scholar! For more information, on this event and sponsorships, click here and thank you for your consideration.             WORD OF ENCOURAGEMENT -- DO NOT SETTLE FOR "GOOD ENOUGH"   You "had" BIG dreams for your business or Professional Goals at one point. You were going to truly excel. You got started in the right direction, but along the way to reaching your big goals, things have gotten difficult. You've reached some of your goals, but not really the big dreams you once envisioned.      Today I want to encourage you not to just settle for where you are, thinking, what you've accomplished is good enough. Don't fall into that trap. You are made for more than good enough. Look yourself in the mirror and say, "I am not going to settle for mediocrity. Things may be difficult. Everything may not be going my way right now, but I'm going to keep pursuing God. I'm going to trust God to help me expand my horizons and keep believing for all that He has for me. I'm going to make it all the way into my Promised Land." -- This month's word of encouragement is adapted from the book,"Your Best Life Now" by Joel Osteen.     Director's Note: Say the above to yourself a couple of times if you need to. I know I'm saying it several times, because I indeed want to become all God wants me to become and reach the goals and dreams I believe He has for me to reach. I refuse to settle for just "good enough"!      Don't forget to join with other brothers and sisters in the above planned activities.  Have fun and continue to encourage each other and be a blessing to the Kingdom.  Equipping Business People to Be A Blessing It's All In The House, Jeffrey Taylor (mrll@aol.com)   Director, Calvary Professional Association

Forward email This email was sent by mrll@aol.com |   Update Profile/Email Address | Instant removal with SafeUnsubscribe™ | Privacy Policy. Jeffrey Taylor, Calvary Professional Association | Box 64442 | Virginia Beach | VA | 23467

Alkebulan Int't Services on Hampton University Radio Station Today (12 Noon)

Hetepu (Peace & Blessings) All,

Alkebulan International Services, LLC, home of "Moringa" ... The Miracle Tree will be on the Radio today!  We will be on WHOV 88.1 FM, Hampton University Radio with - Dr. Al Lewis "Tellin It Like It Is" Natural Health Care show at 12 Noon.

If you are driving around Hampton Roads today during then, dial in to the show.  If not, then you can listen live on-line by going to the following link: http://whov.hamptonu.edu/

For more info about "Moringa - The Miracle Tree", visit Alkebulan's website, "Remember ... what you don't know...sometimes can hurt you."

 

www.alkebulanis.com 

 Asar Maa Ra Gray


"Wealth Without Health Makes No Sense"

 
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ These posts provide information that may aid financial improvement. The information on this site is provided as opinion and should not be construed as professional legal advice, nor professional financial advice, nor professional tax advice. The end reader is advised to seek professional assistance to address one's particular situation. The posts on this site may be third party information and may not be copyrightwritten by the poster of the information.